The billionaire Ken Griffin broke the price record in Miami by paying $106.875 million for a seaside estate. This is the highest amount ever paid for a home in Miami Dade, and records show that Griffin has broken his own record. Last year, he spent a record $75 million for a home on Star Island, an artificial island in the Biscayne Bay.
Griffin’s new estate is in Coconut Grove, an upscale community that has been home to other celebrities such as LeBron James and Sylvester Stallone.
Griffin is famous as the founder and CEO of Citadel, a global hedge fund with over $30 billion in assets. He bought the Coconut Grove estate from Adrienne Arsht, a businesswoman and a philanthropist, who listed the house in January for $150 million. Arsht made a huge profit on the deal, as she paid only $4 million for the property in 1996.
Griffin has previously set a price record in another US location: in 2019, he invested $238 million in a New York penthouse – the greatest amount ever paid for a US home.